Lyxor ETF iBoxx Liquid High Yield 30

Fixed Income
Exchange Traded Fund Exchange Traded Funds (ETFs) ETFs are index-tracking funds that are tradable in real-time during market hours on an exchange. The objective is simple: to replicate as closely as possible the performance of an index. ETFs are easily accessible and flexible, making them suitable tools for investors looking to gain efficient exposure to the underlying index components without purchasing the individual basket of shares. ETFs are suitable for sophisticated retail and professional investors in the UK, who have a good understanding of the underlying market and characteristics of ETFs.

October 2011
Lyxor and Lyxor ETF are names used by Socit Gnrale to promote the products of Lyxor Asset Management. ETF Data
Index Legal Form Exchange First Listing Currency Minimum Investment Total Expense Ratio p.a.* Distribution Frequency ISIN UK Reporting Fund Status (UKRF)** SIPP / ISA Eligibility** Markit iBoxx Liquid High Yield 30 French SICAV UCITS III Compliant LSE 20 January 2011 EUR 1 unit 0.45% No Distribution FR0010975771 Yes Yes EUR 100.83 Million EUR 58.89 Million B6728P1 YIEL YIEL.L YIEL LN

Lyxor ETF iBoxx Liquid High Yield 30 Lyxor ETF iBoxx Liquid High Yield 30 is a French SICAV, UCITS compliant, listed and tradable on the London Stock Exchange. The purpose of the ETF is to track the Markit iBoxx Liquid High Yield 30. Risks Capital at risk: It is important for potential investors to evaluate the risk considerations described below and in each fund prospectus which can be found on www.lyxoretf.co.uk. Investors capital is at risk and the amount originally invested may not be recovered.The value of Lyxor ETFs can go down as well as up and may be subject to significant volatility due to market conditions and changes in the price or the level of the underlying index tracked by an ETF. Counterparty risk: Through Lyxor ETFs, investors are exposed to counterparty risks resulting from the use of an OTC (Over-the-Counter) swap with Socit Gnrale. In-line with UCITS guidelines, the exposure to the Swap Counterparty, Socit Gnrale, cannot exceed 10% of the total fund assets. It is recommended that potential investors study the Prospectus before investing. Investors should note that holdings in this product will not be covered by the provisions of the Financial Services Compensation Scheme, nor by any similar scheme in France. Liquidity risk: Liquidity is provided by registered market makers on the London Stock Exchange (LSE), including Socit Gnrale. Market-makers supporting Lyxor ETFs on exchange must follow the respective London Stock Exchange requirements and guidelines. On-exchange liquidity may be limited as a result of a suspension in the underlying market represented by the index tracked by the ETF; a failure in the LSE, Socit Gnrale or other market-maker systems; or an abnormal trading situation or event.

NAV*** Asset Under Management*** SEDOL TIDM Reuters Code Bloomberg Code

*The Total Expense Ratio (TER) covers all costs incurred by the Management Company to manage the underlying assets. It comprises of the Management Fee and Structural Costs described as follows. The Management Fee represents the compensation for the Management Company services. The Structural Costs represent the custodian fee, the administrative fee, the audit fee and all other operating costs that will be paid by the Management Company to operate the funds. **All gains on the sale of Lyxor ETFs shares and dividend distributions made by Lyxor ETFs may be subject to tax on the basis of applicable tax regulations. Investors must seek their own tax advice for any further information. See Tax Disclaimer overleaf. ***as of 31 October 2011

Lyxor Asset Management A fully owned subsidiary of Socit Gnrale Group, Lyxor AM, the asset management company of the Corporate Investment Banking arm of the group, manages USD 109.5 billion1 and specialises in three businesses: Exchange Traded & Index Funds, Quantitative & Structured management and Alternative Investments. The company is one of the largest players in the European ETF industry with more than USD 38.76 billion1 under management. Lyxor ETFs are listed on 13 Worldwide Stock Exchanges and reflect Equity, Bond and Commodity markets. 1Source: Lyxor AM, data as of 30 September 2011.

Index Performance
Source: Bloomberg

Index Data
Exposure: Asset Class: Number of components: Currency: Bloomberg: Reuters: Europe Corporate Bonds 30 EUR IBOXLH3T .IBLEH0003

Yearly Performances 2011 YTD 2.24%

160
140 120 100

2010
Markit iBoxx Liquid High Yield 30

14.94% 75.07% -35.41% -0.60%

2009 2008 2007

80
60 40 20

Rolling Performances 1 year 3.34% 3 years

October 2008 October 2009 October 2010 October 2011

92.53% -

The Markit iBoxx EUR Liquid High Yield 30 Total Return index includes 30 of the most liquid bonds making up the Markit iBoxx EUR High Yield Core Cum Crossover index, representing the scope of high-yield, Euro-denominated non-government bonds. It is compiled, administered and managed by Markit, an index provider. The full methodology and additional details are available on the Indices section of the www.markit.com website.

October 2007

5 years

This table shows the past performance of the underlying index and not the Lyxor ETF. Some degree of performance difference between the Lyxor ETF and the underlying index is to be expected as a result of the annual Total Expense Ratio* and index replication costs. Past performance is not a reliable indicator of future performance. Note: data as of 31 October 2011

Monthly Report www.lyxoretf.co.uk Tel: 0800 707 6956 Email: info@lyxoretf.co.uk

Lyxor ETF iBoxx Liquid High Yield 30

Fixed Income October 2011
Lyxor and Lyxor ETF are names used by Socit Gnrale to promote the products of Lyxor Asset Management. Allocation of Index
Country Breakdown
Germany Netherlands France Luxembourg Ireland Liberia United Kingdom South Africa Canada Hungary Spain Cayman Islands 22.18% 19.83% 14.20% 13.64% 8.50% 4.50% 3.26% 3.10% 2.76% 2.68% 2.53% 2.48% 24.82% 18.37% 16.37% 14.10% 12.95% 4.96% 2.79% 2.67% 1.89% B BB 22.60% 76.33% 1-3 Y 3-5 Y 5-7 Y 7-10 Y 10-15 Y 15+ Y 15.34% 27.63% 42.82% 13.88% GLOSSARY: Coupon Rate: The current annual interest paid by the bond Yield: The expected annual rate of rate of return of the bond expressed as a percentage Duration: The measure of the sensitivity of the bonds price to interest rate movements. It broadly corresponds to the length of time before the bond is due to be paid Modified Duration: The measure of interest rate sensitivity, expressing the approximate change in price for a yield change Maturity: The average remaining life of the underlying basket of bonds until the repayment of the face value of each bond
Source: Bloomberg

Top holdings
ISIN Name

Source: Bloomberg

Analytics
Coupon Rate (%) Yield (%) Duration (Years) Modified Duration (%) Maturity (Average, in years) 6.81 7.68 3.67 3.41 4.89

Weight

XS0468492219 XS0560905506 XS0465889912 XS0282330868 XS0505541044 XS0604641034 XS0458230322 XS0459131636

Unitymedia Hessen GmbH & Co KG / Unitymedia NRW GmbH 5.02% Wind Acquisition Finance SA Fiat Finance & Trade SA Royal Caribbean Cruises Ltd Ziggo Bond Co BV Fiat Industrial Finance Europe SA HeidelbergCement AG Franz Haniel & CIE Gmbh Conti-Gummi Finance BV GMAC International Finance BV Lafarge SA Nara Cable Funding Ltd Deutsche Lufthansa AG Edcon Proprietary Ltd 4.96% 4.89% 4.80% 4.75% 4.31% 4.06% 3.97% 3.84% 3.80% 3.64% 3.59% 3.53% 3.27%

Maturity Breakdown

DE000A1A0U37 XS0503684838 XS0562783034 XS0550774870 XS0419185789 XS0304285280

Sectors
Consumer Goods Industrials Media Consumer Services Construction & Materials Telecommunications Basic Materials Oil & Gas Technology Note: data as of 31 October 2011

Rating Breakdown

Disclaimer: This document is issued in the UK by the London Branch of Socit Gnrale. Socit Gnrale is a French credit institution (bank) authorized by the Autorit de Contrle Prudentiel (the French Prudential Control Authority). Socit Gnrale is subject to limited regulation by the Financial Services Authority in the UK. Details of the extent of our regulation by the Financial Services Authority are available from us on request. Although information contained herein is from sources believed to be reliable, Socit Gnrale makes no representation or warranty regarding the accuracy of any information. Any reproduction, disclosure or dissemination of these materials is prohibited. The product described within this document is not suitable for everyone. Investors' capital is at risk. Investors should not deal in this product unless they understand its nature and the extent of their exposure to risk. The value of the product can go down as well as up and can be subject to volatility due to factors such as price changes in the underlying instrument and interest rates. Prior to any investment in this product, you should make your own appraisal of the risks from a financial, legal and tax perspective, without relying exclusively on the information provided by us. We recommend that you consult your own independent professional advisors. The securities can be neither offered nor transferred in the United States. Lyxor ETF referred to in this document is an open-ended mutual investment fund established under French Law and approved by the Autorit des Marchs Financiers (the French Financial Markets Authority). The fund is UCITS compliant and is recognised under S.264 of the Financial Services and Markets Act 2000 and may be promoted to retail investors in the UK. All gains on the sale of Lyxor ETFs shares and dividend distributions made by Lyxor ETFs may be subject to tax on the basis of applicable tax regulations. Investors must seek their own tax advice for any further information.
The ETF may be denominated in a currency different to that of the index that it tracks, which means that exchange rate fluctuations could have a negative effect on returns.

The tax statement is only a general guide. The tax treatment of investments will depend on an individuals circumstances. If investors are in any doubt as to their tax position, they must consult with an appropriate professional tax adviser. This statement of the UK tax treatment of the product is based on our understanding of the laws and practice in force as of the date of this document and is subject to any changes in law and the interpretation and application thereof, which changes could be made with retroactive effect.

Index disclaimer: The Markit iBoxx EUR Liquid High Yield index ("the index") referred to here is the property of Markit Indices Limited. ("the index sponsors" ) and it is used under licence for the LYXOR ETF iBoxx Liquid High Yield 30. The parties agree that the index sponsor does not approve of, endorse or recommend the LYXOR ETF iBoxx Liquid High Yield 30 sub-fund. Under no circumstances does the index sponsor provide any guarantee - whether explicit or implicit (including but not limited to the commercial value or appropriateness for any specific use or utilisation) - pertaining to the index or any data included in or linked to the index and, in particular, declines any guarantee relating to the quality, accuracy and/or exhaustiveness of the index or the data included in or linked to the index, or the results obtained from use of the index and/or the composition of the index at a given date or moment, likewise the financial rating of any issuing entity or any credit or similar event (irrespective of the definition of such) relating to a bond in the index at a given date or at any other time.
The complete prospectus of the Lyxor ETF Markit iBoxx USD Emerging Martkets Sovereigns Index is available online and can be downloaded at www.lyxoretf.co.uk.

Monthly Report www.lyxoretf.co.uk

Tel: 0800 707 6956

Email: info@lyxoretf.co.uk